The Federal Government of Nigeria and FundaçãoGetulio Vargas of Brazil have signed a Memorandum of Understanding- MoU to advance private sector development in fertiliser production, hybrid seed technology, and agricultural finance.

According to a statement from the Nigerian Presidency and signed by the Director of Information and Public Relations, ABIODUN OLADUNJOYE, yesterday, the deal was signed through the Ministry of Agriculture and Food Security.

The statement also disclosed that the MoU was signed on behalf of the government by the Permanent Secretary of the Ministry, Mr TEMITOPE FASHEDEMI, and the President of FundaçãoGetulio Vargas, Professor CARLOS IVAN SIMONSEN LEAL, in Rio de Janeiro, Brazil, on the sidelines of the G20 Leaders’ Summit.

It noted that the agreement marks a new phase of strategic collaboration between Nigeria and Brazil. The project, supported by Deutsche Bank, aims to deliver transformative agricultural technologies and knowledge transfer over its 10-year duration.